While the exclusive, top-level market is currently the most sought after, the island has a good stock of properties available, from townhouses and apartments, to villas and seaside bungalows in five-star gated developments. Nicosia and Limassol are the main business centres. Office space is available in purpose-built office blocks, in converted houses or flats. A number of business centres also offer ready-to-move-into offices. They usually include fully equipped offices that are available on demand with flexible terms, meeting rooms and a receptionist service. Overall, rentals are around two-thirds of those charged for comparable commercial spaces in continental Europe, and offices, retail or other commercial space is widely available for purchase or for rent.

Commercial Property

In terms of office rental and sales prices, Limassol continues to be the most expensive region followed by Nicosia, Larnaca, Paphos and Famagusta respectively.

Residential Property

The Cyprus real estate sector has continued to grow in 2025, with strong growth from EU buyers. In the first nine months of the year 13,173 contracts were concluded, while the value of all property transfers lodged at the land registry reached €3.5 billion – an increase of 11.9% over the same period of 2024 – with coastal business hub Limassol taking the lion’s share of contracts, while the capital Nicosia and the coastal town of Larnaca vied for second place.

Cyprus has long been a firm favourite for property buyers worldwide thanks to its high quality of life, safe environment and Mediterranean climate. In addition, the country’s EU membership, its thriving international business centre and strategic position at the crossroads of three continents, together with generous tax incentives for highly skilled individuals, remain key pull-factors for residential buyers, relocating companies, and investors alike. 

Property sales growth has hit double digits in 2025 as interest rates ease and high-skilled newcomers continue to create demand for housing. In the first three quarters of 2025 real estate sales in Cyprus rose year on year by 13.2%. While Limassol had the largest absolute number of sales in January-September (4,156), the fastest pace of increase was in the capital, Nicosia, where sales saw a year-on-year increase of 15.3%. 

Much of the demand comes from new household formation and subsidies for new buyers. For this reason, sales to Cypriots continue to dominate, accounting for 60.4% of the total in the first three quarters of 2025, compared with 60.4% for the whole of 2024 and 55.7% in 2023. While there has been discussion about what proportion of these sales might in fact be sales to Cyprus-incorporated companies owned by non-EU nationals, the picture is not clear as to date there have been no statistics on sales to companies owned by non-Cypriots. In terms of growth, sales to EU nationals dominated growth in 2025, rising by 24.4% year on year in the first nine months of 2025.

Property Price Indicators Show Increase in Prices

The various residential property price indices continue to point to rising prices, even though the degree of increase differs depending on the index (see box). The index prepared by the Statistical Service, Cystat, which is based on actual sales, reports an increase in prices of 2.0% in the first quarter of 2025 and 1.0% in the second. The Central Bank of Cyprus index, which is based on a larger sample of valuations (as distinct from actual sales), reports a year-on-year increase in prices of 4.8% in the first quarter of 2025 and 4.7% in the second. 

Apartment prices measured by the Central Bank index are generally rising faster than those of houses. In the second quarter of 2025 they rose by 5.3% compared with an increase of 3.4% for houses in the same quarter. This probably also underlines the importance of the local residential market in property purchases, especially after the withdrawal of the Cyprus Citizenship by Investment Programme in 2020. The Central Bank index shows a fairly large discrepancy by district, however. While apartment prices in Larnaca rose by 8.2% in the second quarter of 2025 apartment prices in Nicosia increased by a more modest 2.6%.

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December 2025